A definitive new LCOE study says solar has achieved parity.
Solar materials prices are down, financing is more accessible and technology has extended solar system life. The result: The price of solar energy-generated electricity, calculated by a legitimate levelized cost of energy (LCOE) method, is now competitive in many regions with the price of electricity generated by conventional sources.
To be clear, this review of solar photovoltaic LCOE is not one of those “if coal and nuclear paid for the real harm they do” analyses. It is a hard look at the actual numbers.
The study’s biggest surprise, said co-author Joshua Pearce, Materials Science and Mechanical Engineering Professor at Queen’s University and Michigan Technological University, was how much outdated information and misinformation there is about the price of residential and small/medium system solar energy. “We have reached a tipping point,” he said. “Solar has gone past grid parity.”
Parity, according to the study, is “the lifetime generation cost […]